Hedge Fund Courage Capital Goes Short

Feb 3 2011 | 1:24pm ET

Tennessee-based hedge fund Courage Capital Management has launch a short-biased hedge fund, following its launch last year of a long/short strategy.

The distressed specialist, which has $600 million in assets under management, launched its Short Opportunity Fund last month. The new vehicle is managed by Brad Weeks and James Hughes, who joined Courage last year from Ergates Capital Management.

Weeks and Hughes are also at the helm of the Long/Short Opportunity Fund, which debuted in November. The two U.S. stock funds currently manage $25 million in advance of their opening to worldwide investors during this quarter, HFMWeek reports.

Last year, Courage launched its Credit Opportunities Fund.

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